Instnatant/ 2005-256417 $1 16 Book: 5654 Page: 27
community and disposing of the same in parcels by sale, lease, or otherwise; or
(2) Maintaining such sign or signs thereon as may be reasonably necessary in connection with the sale,lease or other transfer ofthe Property in parcels;
Provided, however,that operations being conducted under subparagraphs (a)and(b)immediately above shall be permitted upon only those parts of the Property owned or controlled by the party causing or conducting said operations. As used in this section,the terms "its transferees": specifically does not include purchasers oflots improved as completed residences, or to purchasers ofunimproved lots who are not contractors or builders.
(3)
9.05 A Director designated by Declarant,as provided in the Articles, may be removed only by Declarant in its sole and absolute discretion and without any need for a meeting or vote. Declarant shall have the unqualified right to name a successor for any Director designated and thereafter removed by it or for any vacancy on the Board ofDirectors as to a Director designated by it and Declarant shall notify the Board of Directors ofthe name of the respective successor Director and the commencement date for the term of such successor Director. No Director or Officer designated or appointed by Declarant shall be required to be a Member of the Association. 9.06 The first meeting ofa newly elected Board ofDirectors shall be held in such place and the Directors at the meeting at which they were elected shall fix time as. No further notice of the organizational meeting shall be necessary.
9.07 Regular meetings ofthe Board ofDirectors may be held at such time and place as shall be determined from time to time by a majority ofDirectors.
9.08 Notice of the time and place of regular and special meetings of the Board of Directors, or adjournments thereof, shall be given to each Director personally or by mail, telephone or telegraph at least seven (7) days prior to the day named for such meeting. Any Director may waive notice ofa meeting before, during or after a meeting,and such waiver shall be deemed equivalentto the receipt ofnotice by such Director.
909 A quorum ofthe Board ofDirectors shall consist ofthe Directors entitled to cast a majority of the votes of the entire Board of Directors. Matters approved by a majority of the
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